Oil set for biggest weekly gain since July amid rising US-Iran tensions

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Oil prices rose on Friday, putting crude on track for its strongest weekly performance since mid-July. Escalating tensions between the United States and Iran have stoked fears of potential supply disruptions from the Middle East. The standoff between Washington and Tehran has heightened concerns about the security of regional energy infrastructure. Separately, Russian President Vladimir Putin signaled a possible route toward ending the war in Ukraine. Both the United States and China are reportedly open to supporting a potential peace settlement in the conflict.

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